According to the Europe 2020 Strategy, at least 40% of young people between 30 and 34 years should achieve a tertiary education at the end of the current decade. Italy is one of the member states which appears furthest away from that goal. This situation is exacerbated be-cause, despite the fact that young Italian graduates are relatively few, the market offers insufficient job opportunities to make their educa-tional investment profitable. In the light of these considerations, supported by empirical evidence, the paper assumes the hypothesis that Italy is running a serious risk of drifting towards a "lack" of human capital. Some guidelines are traced on policies potentially able to counteract this risk, assigning a key role to employment policies. Finally, from an examination of the factors and mechanisms that characterize the field of applicability, the paper addresses the specific labor policies dedicated to the youth segment during the entry, crossing and exit phases in the higher education circuit, suggesting some possible delivery mechanisms.